Track market-moving stories before they get noisy

Amgen (AMGN) shares sold off after Novartis (NVS) failed to meet its primary endpoint in phase-3 trials. Diane King Hall offers more insight into the volatile moves in the healthcare space.

SPX Technologies (SPXC - Free Report) closed the last trading session at $205.69, gaining 9.6% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $276.1 indicates a 34.2% upside potential.

The average comprises 10 short-term price targets ranging from a low of $225.00 to a high of $310.00, with a standard deviation of $24.24. While the lowest estimate indicates an increase of 9.4% from the current price level, the most optimistic estimate points to a 50.7% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.

While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.

But, for SPXC, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.

Price, Consensus and EPS Surprise

Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.

While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?

They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.

However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.

That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.

Why SPXC Could Witness a Solid UpsideAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For the current year, six estimates have moved higher over the last 30 days compared to no negative revision. As a result, the Zacks Consensus Estimate has increased 6.1%.

Moreover, SPXC currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Therefore, while the consensus price target may not be a reliable indicator of how much SPXC could gain, the direction of price movement it implies does appear to be a good guide.

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all.

By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.

However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.

Our proprietary system currently recommends SPX Technologies (SPXC - Free Report) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank.

Studies have shown that stocks with the best growth features consistently outperform the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.

While there are numerous reasons why the stock of this infrastructure equipment supplier is a great growth pick right now, we have highlighted three of the most important factors below:

Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for SPX Technologies is 30%, investors should actually focus on the projected growth. The company's EPS is expected to grow 24.4% this year, crushing the industry average, which calls for EPS growth of 10.2%.

Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.

Right now, year-over-year cash flow growth for SPX Technologies is 34.2%, which is higher than many of its peers. In fact, the rate compares to the industry average of -0.2%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 24.2% over the past 3-5 years versus the industry average of 14.3%.

Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

The current-year earnings estimates for SPX Technologies have been revising upward. The Zacks Consensus Estimate for the current year has surged 6.1% over the past month.

Bottom LineSPX Technologies has not only earned a Growth Score of B based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination indicates that SPX Technologies is a potential outperformer and a solid choice for growth investors.

Posted by Defense World Staff on Aug 6th, 2026

Arrowstreet Capital Limited Partnership bought a new stake in shares of SPX Technologies, Inc. (NYSE:SPXC – Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,829 shares of the company’s stock, valued at approximately $1,365,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SPXC. Royal Bank of Canada boosted its position in shares of SPX Technologies by 8.1% during the first quarter. Royal Bank of Canada now owns 38,386 shares of the company’s stock worth $4,942,000 after buying an additional 2,892 shares during the period. AQR Capital Management LLC increased its position in SPX Technologies by 74.5% in the 1st quarter. AQR Capital Management LLC now owns 20,734 shares of the company’s stock valued at $2,670,000 after acquiring an additional 8,854 shares during the period. Millennium Management LLC increased its position in SPX Technologies by 214.4% in the 1st quarter. Millennium Management LLC now owns 83,285 shares of the company’s stock valued at $10,725,000 after acquiring an additional 56,799 shares during the period. NewEdge Advisors LLC raised its stake in SPX Technologies by 21.8% during the 1st quarter. NewEdge Advisors LLC now owns 625 shares of the company’s stock valued at $80,000 after acquiring an additional 112 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in SPX Technologies by 1.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 192,129 shares of the company’s stock valued at $24,742,000 after acquiring an additional 3,353 shares in the last quarter. Institutional investors own 92.82% of the company’s stock.

SPX Technologies Price Performance NYSE SPXC opened at $215.01 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.23. SPX Technologies, Inc. has a 1 year low of $179.62 and a 1 year high of $251.08. The company has a market cap of $10.77 billion, a PE ratio of 38.67, a PEG ratio of 1.41 and a beta of 1.27. The stock’s 50-day moving average price is $224.68 and its two-hundred day moving average price is $217.73.

SPX Technologies (NYSE:SPXC – Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.85 by $0.17. SPX Technologies had a net margin of 11.27% and a return on equity of 16.53%. The company had revenue of $679.00 million during the quarter, compared to analysts’ expectations of $640.18 million. During the same period last year, the company posted $1.65 earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. SPX Technologies has set its FY 2026 guidance at 8.200-8.600 EPS. On average, analysts predict that SPX Technologies, Inc. will post 8.48 EPS for the current year.

Analyst Upgrades and Downgrades Several research analysts have recently issued reports on SPXC shares. JPMorgan Chase & Co. increased their price target on SPX Technologies from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Wells Fargo & Company restated an “overweight” rating and set a $250.00 price objective on shares of SPX Technologies in a research note on Monday. Oppenheimer reaffirmed an “outperform” rating and issued a $280.00 price objective (up from $272.00) on shares of SPX Technologies in a report on Monday, July 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of SPX Technologies in a research report on Wednesday, July 8th. Finally, Wall Street Zen cut shares of SPX Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, SPX Technologies currently has an average rating of “Moderate Buy” and an average price target of $266.67.

Read Our Latest Report on SPX Technologies

About SPX Technologies (Free Report)

SPX Technologies (NYSE:SPXC) is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company’s Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.

See Also Five stocks we like better than SPX Technologies SpaceX: Love the Company, But the Stock Is a Harder Call Ulta’s Growth Is Real, But So Are the Risks BWX Technologies Is Turning the AI Power Problem Into a Nuclear Growth Story Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth Want to see what other hedge funds are holding SPXC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPX Technologies, Inc. (NYSE:SPXC – Free Report).

Receive News & Ratings for SPX Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPX Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINEAvior Wealth Management LLC Buys Shares of 49,509 JPMorgan U.S. Quality Factor ETF $JQUA

NEXT HEADLINE »Versigent (NYSE:VGNT) Lowered to Equal Weight Rating by Fox Advisors

The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is SPX Technologies (SPXC - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Construction sector should help us answer this question.

SPX Technologies is a member of our Construction group, which includes 92 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. SPX Technologies is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for SPXC's full-year earnings has moved 4.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, SPXC has returned 9.8% so far this year. At the same time, Construction stocks have gained an average of 7%. This means that SPX Technologies is outperforming the sector as a whole this year.

Another stock in the Construction sector, United Rentals (URI - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 33.4%.

For United Rentals, the consensus EPS estimate for the current year has increased 2.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, SPX Technologies belongs to the Building Products - Air Conditioner and Heating industry, a group that includes 9 individual stocks and currently sits at #31 in the Zacks Industry Rank. Stocks in this group have gained about 26.7% so far this year, so SPXC is slightly underperforming its industry this group in terms of year-to-date returns.

On the other hand, United Rentals belongs to the Building Products - Miscellaneous industry. This 34-stock industry is currently ranked #92. The industry has moved -1.1% year to date.

Investors with an interest in Construction stocks should continue to track SPX Technologies and United Rentals. These stocks will be looking to continue their solid performance.

This ETF Weeds Out Small-Cap UnderperformersSPX Technologies NYSE: SPXC reported second-quarter 2026 results marked by double-digit revenue, adjusted EBITDA and adjusted earnings-per-share growth, as demand for its data center cooling products and stronger Detection & Measurement project activity supported performance.

Adjusted EBITDA increased 20% from a year earlier, while adjusted EPS rose 22% to $2.02, Chief Executive Officer Gene Lowe said on the company’s earnings call. Revenue increased 23%, including 17% organic growth. Consolidated segment income rose $31.3 million, or 23%, to $167.1 million, while consolidated segment margin held at 24.6%.

Get SPX Technologies alerts:

Stock Rotation is Underway: Here are the Winners Moving ForwardThe company raised the midpoint of its full-year adjusted EPS guidance by $0.45 to $8.40. Lowe said the updated outlook reflects additional data center volume, a stronger outlook for Detection & Measurement, and modest accretion from the recently announced Neptronic acquisition. The revised guidance implies 27% adjusted EBITDA growth at the midpoint.

Data Center Capacity Outlook Expands SPX increased its expected data center production capacity to approximately $1.1 billion when fully operational, up from a prior estimate of about $750 million. Lowe attributed the increase to higher-than-anticipated throughput at the company’s Olathe, Kansas, and Springfield facilities, as well as production and workflow improvements.

The company has raised its 2026 data center revenue outlook several times, from an initial expectation of $300 million to $350 million last quarter and now to $430 million. Lowe said demand remains strong among existing hyperscale customers, while the company has also recorded wins with colocation and “neo cloud” customers.

Assembly activity for the OlympusMAX cooling product began in July at the company’s new Madison, Alabama, facility. SPX expects to add production capabilities there during the first half of 2027. Production of engineered aluminum dampers at Tamco’s Tennessee facility is also ramping as planned.

Chief Financial Officer Mark Carano said Tamco is expected to reach full production capacity sometime in 2027, while the Madison facility is expected to reach full capacity in the second half of 2028. He added that the timetable could move earlier if progress continues favorably.

SPX said it has long-term agreements with several data center customers, though Lowe noted that such agreements are not recorded as backlog until formal purchase orders are received. The company said it evaluates supply availability for each major order and seeks to ensure it can meet delivery commitments.

HVAC Growth and Neptronic Acquisition In the HVAC segment, second-quarter revenue rose 27.6% year over year, including 18.9% organic growth. The segment recorded double-digit organic growth in both cooling and heating. Segment income increased $14 million, or 15%, primarily due to higher volume.

HVAC segment margin declined 260 basis points from a year earlier. Carano said the decline reflected capacity-expansion startup costs, the net effect of tariffs and a difficult prior-year comparison, along with modest inflationary pressure. Segment backlog ended the quarter at $919 million, up 59% organically from a year earlier, driven primarily by data center demand.

The company said the raised full-year HVAC margin outlook was attributable to the Neptronic acquisition. Carano said the remaining HVAC outlook was unchanged, and that tariffs and startup costs that weighed on the first half should moderate in the second half.

Neptronic adds intelligent controls, electric duct heaters, humidification products and actuated valves to SPX’s HVAC portfolio. Lowe said roughly half of Neptronic’s business is closely related to SPX’s existing electric heating and humidification operations, while its controls business offers capabilities for third-party fan walls and other HVAC equipment.

Carano said Neptronic is expected to generate approximately $75 million of full-year revenue, although SPX will own the business for about five months during 2026. He described the acquisition’s contribution to 2026 guidance as roughly $0.05 to $0.06 per share. Neptronic’s segment income margin is in the low-40% range, according to Carano, and management expects the business to grow at a high-single-digit rate over time.

Detection & Measurement Results Detection & Measurement revenue increased 13% year over year, while segment income rose 43% and segment margin expanded 610 basis points. The improvement was driven by high-margin project volume, including a project worth about $15 million that moved from the third quarter into the second quarter, as well as synergy initiatives across the segment.

Lowe said approximately half of the margin expansion was attributable to favorable project mix relative to the prior year, with much of the remainder tied to the timing shift and synergy efforts. Detection & Measurement backlog ended the quarter at $312 million, down from a year earlier because of higher project volume during the period.

Management expects fourth-quarter Detection & Measurement revenue to exceed third-quarter levels, with similar margins in both periods. Carano said the company’s 2026 guidance calls for segment margins of roughly 26% to 26.5%, though project mix can affect results from period to period.

Balance Sheet and Leadership Updates SPX ended the quarter with $168 million in cash, $615 million in total debt and adjusted free cash flow of about $72 million. Its leverage ratio was approximately 0.7 times under its bank credit agreement, or 1.4 times including the Neptronic acquisition.

Lowe also announced that John Swann, who leads the Detection & Measurement segment, plans to retire at the end of 2026. Eric Kaled, who has led the company’s transportation and contact platform since 2019, will succeed Swann. SPX also appointed JBT Marel Chief Executive Officer Brian Deck as an independent director.

About SPX Technologies (NYSE:SPXC)SPX Technologies NYSE: SPXC is a diversified global supplier of highly engineered products and solutions serving industrial, municipal, energy and utility markets. The company designs, manufactures and supports a broad range of equipment that helps customers monitor, control and manage critical processes in water distribution, power generation, HVAC, refrigeration and industrial applications.

The company's Detection & Measurement Technologies segment offers leak detection systems, pipe and asset assessment tools, fluid flow measurement devices, gas detection equipment and related services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in SPX Technologies Right Now?Before you consider SPX Technologies, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SPX Technologies wasn't on the list.

While SPX Technologies currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Enter your email address and we’ll send you MarketBeat’s list of ten stocks set to soar in Summer 2026, despite the threat of tariffs and what's happening in Iran. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.

Get This Free Report

Key Takeaways SPXC raised data center capacity expectations to $1.1 billion at full production, up from $750 million.SPXC lifted 2026 outlook with higher revenues, EBITDA and EPS guidance after strong execution.Neptronic acquisition adds HVAC controls and solutions, supporting more integrated HVAC offerings. SPX Technologies, Inc. (SPXC - Free Report) used its second-quarter earnings call to highlight accelerating data center demand, expanded manufacturing capacity and a higher outlook for 2026. Management emphasized that operational improvements are increasing the company’s ability to serve growing cooling solution demand.

SPXC also discussed the strategic addition of Neptronic, continued acquisition activity and stronger segment execution. The company reported adjusted EPS of $2.02, beating the Zacks Consensus Estimate of $1.85, while revenues reached $679 million, surpassing the consensus estimate of $635.6 million.

SPXC Expands Data Center CapacitySPXC executives placed significant focus on expanding data center cooling capacity. President and CEO Eugene Lowe said that the company now expects approximately $1.1 billion of annual data center capacity at full production, up from the prior expectation of $750 million.

Lowe said that improvements in OlympusMAX production, facility throughput and lean initiatives helped raise expectations. The company increased its 2026 data center revenue outlook to $430 million, supported by stronger demand and improved manufacturing efficiency.

Management also highlighted customer visibility in the market. Lowe said that hyperscaler relationships and direct customer engagement provide visibility into future demand, while data center cooling remains a major growth opportunity for the HVAC business.

SPX Raises 2026 OutlookSPX increased its full-year guidance following the strong quarter. Management raised the midpoint of adjusted EBITDA guidance to reflect higher data center volume, stronger Detection & Measurement performance and the contribution from Neptronic.

The updated outlook calls for revenues of $2.705-$2.765 billion, adjusted EBITDA of $630-$660 million and adjusted EPS of $8.2-$8.6.

CFO Mark Carano said the guidance increase reflects improved execution and demand trends. He noted that HVAC margins should benefit from higher volumes, Neptronic contributions and easing impacts from capacity start-up costs and tariffs.

SPXC Adds HVAC CapabilitiesSPXC discussed the strategic importance of its Neptronic acquisition. Lowe said the deal strengthens the HVAC portfolio by adding controls, electric duct heating, humidification solutions and actuated valves.

Management said Neptronic expands SPXC’s capabilities toward more integrated HVAC solutions. The company expects the acquisition to support growth through existing channels, OEM relationships and data center customer connections.

Carano said Neptronic is expected to grow above SPXC’s medium-term targets, with high single-digit growth potential and a margin profile above the HVAC segment average.

SPX Delivers Segment MomentumSPX reported revenue growth of 22.9% year over year in the quarter, with adjusted EBITDA increasing 19.8%. Consolidated segment income rose 23% to $167.1 million, while adjusted EPS increased 22.4% to $2.02.

The HVAC segment benefited from higher cooling equipment volumes tied to data center demand and increased throughput from expanded capacity. Revenues grew 27.6% year over year, while segment income increased 14.6%.

Detection & Measurement also posted stronger profitability. Segment income increased 43.3%, supported by project volumes, favorable mix and cost optimization initiatives.

SPXC Addresses Analyst QuestionsSPXC faced questions from analysts about the durability of Detection & Measurement margins. Carano told a BofA Securities analyst that roughly half of the margin improvement came from favorable project mix, while project timing and synergy initiatives contributed to the remainder.

A Truist Securities analyst asked about the pace of data center capacity expansion. Lowe explained that productivity improvements and facility optimization enabled the company to increase expected capacity without changing the overall ramp timeline.

A B. Riley Securities analyst questioned long-term customer agreements. Lowe said that SPXC has agreements with several customers that provide demand alignment while maintaining flexibility through formal purchase orders.

SPX Maintains Growth FocusSPX ended the quarter with $168 million of cash and total debt of $615 million. Management said that its leverage position leaves room for continued acquisitions while maintaining its strategic investment priorities.

Lowe emphasized continued investment in capacity expansion, acquisition integration and opportunities across HVAC and Detection & Measurement. The company said that its pipeline of potential acquisitions remains active.

Management’s focus remains on scaling data center solutions, integrating recent acquisitions and improving operating performance across its businesses.

SPXC’s Zacks Rank and Style SignalsSPXC currently carries a Zacks Rank #2 (Buy). The Zacks Rank is driven by earnings estimate revisions and is designed to help identify stocks with stronger near-term performance potential. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The stock has a Value Score of D, a Growth Score of B, a Momentum Score of D and a VGM Score of C. The Zacks Style Score evaluates value, growth and momentum characteristics, with higher grades representing stronger attributes within each category.

The combination of a Zacks Rank #2 and individual Style Scores provides investors with additional context, though the Zacks Rank can change as analysts update earnings estimates following new results.

SPX Technologies (SPXC - Free Report) reported $679 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 22.9%. EPS of $2.02 for the same period compares to $1.65 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $635.64 million, representing a surprise of +6.82%. The company delivered an EPS surprise of +9.19%, with the consensus EPS estimate being $1.85.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how SPX Technologies performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Revenues- Detection & Measurement: $198.4 million compared to the $176.84 million average estimate based on five analysts. The reported number represents a change of +12.9% year over year.Revenues- HVAC: $480.6 million versus $458.85 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +27.6% change.Segment Income- Detection & Measurement: $57.3 million versus the four-analyst average estimate of $42.44 million.Segment Income- HVAC: $109.8 million versus $111.07 million estimated by four analysts on average.View all Key Company Metrics for SPX Technologies here>>>

Shares of SPX Technologies have returned -19% over the past month versus the Zacks S&P 500 composite's -1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

CHARLOTTE, N.C., July 30, 2026 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE:SPXC) (“SPX”, the “Company”, “we” or “our”) today reported results for the second quarter ended June 27, 2026.

Second Quarter Highlights (amounts presented for continuing operations; all comparisons against the second quarter of 2025, unless otherwise noted)

Revenue of $679.0 million, up 22.9%GAAP income from continuing operations of $79.3 million, up 51.0%GAAP EPS of $1.56, up 41.8%Adjusted EPS* of $2.02, up 22.4%Adjusted EBITDA* of $151.8 million, up 19.8%
Raising 2026 Guidance (all comparisons against the full year 2025, unless otherwise noted)

Revenue range of $2.705 to $2.765 billion, up ~21% year-on-year at the midpoint (prior range: $2.575 to $2.645 billion).Adjusted EBITDA* range of $630 to $660 million, up ~27% year-on-year at the midpoint (prior range: $600 to $625 million).Adjusted EPS* range of $8.20 to $8.60, up ~24% year-on-year at the midpoint (prior range: $7.75 to $8.15).
Gene Lowe, President and CEO, remarked, “I’m very pleased with our second quarter performance, which reflected strong execution across both segments. We delivered significant year-over-year growth in revenue and operating income, driven by robust organic growth, continued demand across our key end markets, and meaningful contributions from our recent acquisitions. These results demonstrate the strength of our portfolio and the disciplined execution of our teams.”

Mr. Lowe continued, “We’re also making meaningful progress on our strategic priorities, advancing both our organic and inorganic growth initiatives. The acquisition of Neptronic expands our HVAC portfolio with highly complementary product categories that leverage our established sales channels. At the same time, we’re increasing manufacturing capacity to support growing demand, with initial assembly of Olympus Max now underway at our Madison, Alabama facility. Given our progress to date and improved visibility, we have increased our estimated annual data center revenue capacity to approximately $1.1 billion once at full production.”

Mr. Lowe further commented, “Looking ahead to the second half of 2026, we remain confident in the strength of customer demand and the momentum across our business. Accordingly, we are once again raising our full-year guidance, including Adjusted EBITDA* to a range of $630 to $660 million, representing an approximately 27% year-over-year increase at the midpoint. Our updated outlook reflects continued strength in data center demand, the impact of the Neptronic acquisition and stronger performance from our Detection and Measurement segment, positioning us well for the balance of the year.”

Second Quarter and Year-to-Date Financial Comparisons:

($ millions, except per share data) Q2 2026 Q2 2025 2026 YTD 2025 YTDRevenue $679.0  $552.4  $1,245.8  $1,035.0 Operating income  115.0   86.6   202.7   153.2 Income from continuing operations  79.3   52.5   143.7   104.2 GAAP EPS from continuing operations $1.56  $1.10  $2.84  $2.21          Consolidated segment income* $167.1  $135.8  $302.4  $246.3 Adjusted operating income*  147.0   119.5   266.7   214.4 Adjusted EBITDA*  151.8   126.7   277.9   229.3 Adjusted EBITDA %*  22.4%  22.9%  22.3%  22.2%Adjusted EPS* $2.02  $1.65              Net operating cash flow from continuing operations $90.4  $43.4  $120.2  $33.0 Capital expenditures  (21.1)  (7.7)  (39.6)  (13.2)Adjusted free cash flow*  72.1   37.1   87.9   73.4  * Non-GAAP financial measure. See attached schedules for reconciliation of historical non-GAAP measures to most comparable GAAP financial measure. A reconciliation of non-GAAP guidance measures is not practicable and, accordingly, is not provided.

Segment Overview:

HVAC

  Three months ended($ millions) Q2 2026 Q2 2025Revenue $480.6  $376.7 • Organic  18.9%  • Inorganic  8.5%  • Currency  0.2%  Total Growth  27.6%  Segment income $109.8  $95.8 as a percent of revenues  22.8%  25.4%Change in bps -260bps  
Second Quarter 2026
The revenue increase was primarily driven by:

an organic increase due primarily to (i) higher volumes of cooling equipment primarily associated with increased data center demand and higher throughput resulting from increased capacity, and (ii) higher volumes of our heating products; andan inorganic increase from the acquisitions of Crawford United, Thermolec and Sigma & Omega. The segment income increase was due primarily to the revenue growth mentioned above. The decrease in segment margin was primarily due to (i) start-up costs and related inefficiencies associated with our capacity expansion initiatives, (ii) net tariff headwinds and inflationary cost increases, and (iii) the respective 2025 period benefiting from a more accretive mix and favorable project execution primarily within our cooling equipment business.

Detection & Measurement

  Three months ended($ millions) Q2 2026 Q2 2025Revenue $198.4  $175.7 • Organic  12.8%  • Currency  0.1%  Total Growth  12.9%  Segment income $57.3  $40.0 as a percent of revenues  28.9%  22.8%Change in bps 610bps  
Second Quarter 2026
The revenue increase was primarily driven by an organic increase due primarily to higher project volumes within our aids to navigation and communication technologies businesses.

The segment income increase was due primarily to the revenue growth mentioned above. The segment margin increase was primarily due to (i) a more favorable product mix within our communication technologies and aids to navigation businesses, (ii) operating leverage, including on SG&A costs, of the higher revenue mentioned above, and (iii) benefits realized related to our cost optimization initiatives.

Liquidity and Financial Position:

($ millions) Q2 2026 Q4 2025Total debt $614.7**$501.6Total cash  168.2  366.0 **Does not include borrowings of $340.0 incurred in July 2026 in connection with funding the acquisition of Neptronic.

2026 Guidance:
For the full year 2026, SPX now anticipates segment and company performance as follows:

 RevenueSegment Income
Margin %Adjusted
EPS*Adjusted
EBITDA*/%HVAC$1,955-$1,995 million
($1,840-$1,880 million prior)24.50%-25.00%
(24.25%-24.75% prior)  Detection & Measurement$750-$770 million
($735-$765 million prior)26.25%-26.75%
(25.50%-26.00% prior)  Total SPX Adjusted$2.705-$2.765 billion
($2.575-$2.645 billion prior)25.00%-25.50%
(24.60%-25.10% prior)$8.20-$8.60
($7.75-$8.15 prior)$630-$660 million /
23.30%-23.80%
($600-$625 million /
23.25%-23.75% prior)
Form 10-Q: The Company expects to file its quarterly report on Form 10-Q for the period ended June 27, 2026 with the Securities and Exchange Commission by August 7, 2026. This press release should be read in conjunction with that filing, which will be available on the Company's website at www.spx.com, in the Investor Relations section.

Conference Call: SPX will host a conference call at 4:45 p.m. (ET) today to discuss second quarter results. The call will be simultaneously webcast via the Company's website at www.spx.com and the slide presentation will be available in the News section of the site.

Call Access Process: To access the call by phone, please use the following link to receive dial-in details https://register-conf.media-server.com/register/BI1493b55e6e4e4d7eb65b63476990f468. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time at www.spx.com.

About SPX Technologies, Inc: SPX Technologies, Inc. is a diversified, global supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. Based in Charlotte, North Carolina, SPX Technologies, Inc. has operations in over 16 countries. SPX Technologies, Inc. is listed on the New York Stock Exchange under the ticker symbol “SPXC.” For more information, please visit www.spx.com.

Non-GAAP Presentation: This press release contains certain non-GAAP financial measures, including consolidated segment income and margin, adjusted operating income, adjusted income from continuing operations before income taxes, adjusted earnings per share from continuing operations (or, adjusted EPS), EBITDA, adjusted EBITDA and margin, free cash flow from continuing operations and adjusted free cash flow from continuing operations (or, adjusted free cash flow). These non-GAAP financial measures do not provide investors with an accurate measure of, and should not be used as a substitute for, the comparable financial measures as determined in accordance with accounting principles generally accepted in the United States (“GAAP”). The Company believes these non-GAAP financial measures, when read in conjunction with the comparable GAAP financial measures, give investors a useful tool to assess and understand the Company’s overall financial performance, because they exclude items of income or expense that the Company believes are not reflective of its ongoing operating performance, allowing for a better period-to-period comparison of operations of the Company. Additionally, the Company’s management uses these non-GAAP financial measures as measures of the Company’s performance. The Company acknowledges that there are many items that impact a company’s reported results and the adjustments reflected in these non-GAAP measures are not intended to present all items that may have impacted these results. In addition, these non-GAAP measures are not necessarily comparable to similarly titled measures used by other companies.

Refer to the tables included in this press release for the components of each of the non-GAAP financial measures, and for the reconciliations of historical non-GAAP financial measures to their respective comparable GAAP measures. Our non-GAAP financial guidance excludes items, which would be included in our GAAP financial measures, that we do not consider indicative of our on-going performance; and are calculated in a manner consistent with the presentation of the similarly titled historical non-GAAP measures presented in this press release. These items include, but are not limited to, intangible asset amortization expense, acquisition and integration-related costs, costs associated with dispositions, and potential non-cash income or expense items associated with changes in market interest rates and actuarial or other data related to our pension and postretirement plans, as the ultimate aggregate amounts associated with these items are out of our control and/or cannot be reasonably predicted. Accordingly, a reconciliation of our non-GAAP financial guidance to the most comparable GAAP financial measures is not practicable. Full-year guidance excludes impacts from future acquisitions, dispositions and related transaction costs, incremental impacts of tariffs and trade tensions on market demand and costs subsequent to the date of this release, the impact of foreign exchange rate changes subsequent to June 27, 2026, and environmental and litigation charges.

Forward-looking Statements: Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Please read these results in conjunction with the Company’s documents filed with the Securities and Exchange Commission, including the Company’s most recent annual report on Form 10-K. These filings identify important risk factors and other uncertainties that could cause actual results to differ from those contained in the forward-looking statements, including the following: cyclical changes and specific industry events in our markets; changes in anticipated capital investment and maintenance expenditures by customers; changes in economic conditions in relevant global and North American markets, including as a result of geopolitical conflicts, including the armed conflicts in the Middle East and related impacts on shipping in that region, the imposition, or threat of imposition of tariffs, including any new or increased tariffs announced by the U.S. government and any retaliatory tariffs announced in response thereto, and other trade barriers or international trade tensions; availability, limitations or cost increases of raw materials and/or commodities, including as a result of geopolitical conflicts or new or increased tariffs, as well as the potential impact of retaliatory tariffs and other penalties, that cannot be recovered in product pricing; the impact of competition on profit margins and our ability to maintain or increase market share; risks with respect to our contracts with the U.S. government, including the government’s ability to terminate contracts prior to completion or failure to appropriate amounts necessary to fund such contracts; inadequate performance by third-party suppliers and subcontractors for outsourced products, components and services and other supply-chain risks; the uncertainty of claims resolution with respect to environmental and other contingent liabilities; the impact of climate change and any legal or regulatory actions taken in response thereto; cyber-security risks; risks with respect to the protection of intellectual property, including with respect to our digitalization initiatives; the impact of overruns, inflation and the incurrence of delays with respect to long-term fixed-price contracts; defects or errors in current or planned products; the impact of pandemics and governmental and other actions taken in response; domestic economic, political, legal, accounting and business developments adversely affecting our business, including regulatory changes; uncertainties with respect to our ability to complete expansions to or the reconfiguration of our manufacturing footprint within the time periods and at costs we anticipate and whether we will realize the anticipated benefits of these activities; uncertainties with respect to our ability to identify acceptable acquisition targets; uncertainties surrounding timing and successful completion of acquisition transactions, including with respect to integrating acquisitions and achieving cost savings, synergistic sales or other benefits from acquisitions; the impact of retained liabilities of disposed businesses; potential labor disputes; and extreme weather conditions and natural and other disasters.

Actual results may differ materially from these statements. The words “guidance,” “believe,” “expect,” “anticipate,” “project” and similar expressions identify forward-looking statements. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.

Statements in this press release speak only as of the date of this press release, and SPX Technologies, Inc. disclaims any responsibility to update or revise such statements, except as required by law.

Investor and Media Contact:
Johann Rawlinson, VP, Investor Relations
Phone: 980-228-6028
E-mail: [email protected]

Source: SPX Technologies, Inc.

SPX TECHNOLOGIES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited; in millions, except per share amounts)         Three months ended Six months ended June 27, 2026 June 28, 2025 June 27, 2026 June 28, 2025        Revenues$679.0  $552.4  $1,245.8  $1,035.0 Costs and expenses:       Cost of products sold 406.2   323.5   742.4   610.2 Selling, general and administrative 129.9   117.2   249.3   226.7 Selling, general and administrative — intangible amortization 26.3   24.6   49.6   44.3 Special charges, net 1.6   —   1.8   0.1 Other operating expense, net —   0.5   —   0.5 Operating income 115.0   86.6   202.7   153.2         Other income (expense), net (5.1)  (2.1)  (8.1)  0.6 Interest expense (8.8)  (15.6)  (17.2)  (27.9)Interest income 1.1   1.0   2.2   1.9 Income from continuing operations before income taxes 102.2   69.9   179.6   127.8 Income tax provision (22.9)  (17.4)  (35.9)  (23.6)Income from continuing operations 79.3   52.5   143.7   104.2         Income from discontinued operations, net of tax —   —   1.6   — Loss on disposition of discontinued operations, net of tax (0.9)  (0.3)  (7.0)  (0.8)Loss from discontinued operations, net of tax (0.9)  (0.3)  (5.4)  (0.8)        Net income$78.4  $52.2  $138.3  $103.4         Basic income per share of common stock:       Income from continuing operations$1.58  $1.12  $2.88  $2.24 Loss from discontinued operations (0.01)  —   (0.11)  (0.02)Net income per share$1.57  $1.12  $2.77  $2.22         Weighted-average number of common shares outstanding — basic 50.070   46.716   49.999   46.586         Diluted income per share of common stock:       Income from continuing operations$1.56  $1.10  $2.84  $2.21 Loss from discontinued operations (0.01)  —   (0.11)  (0.02)Net income per share$1.55  $1.10  $2.73  $2.19         Weighted-average number of common shares outstanding — diluted 50.675   47.396   50.597   47.255  SPX TECHNOLOGIES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited; in millions)     June 27, 2026 December 31, 2025ASSETS   Current assets:   Cash and equivalents$166.4  $364.0 Accounts receivable, net 442.4   357.2 Contract assets 78.1   65.0 Inventories, net 374.0   302.2 Other current assets 41.5   55.3 Total current assets 1,102.4   1,143.7 Property, plant and equipment:   Land 26.8   26.9 Buildings and leasehold improvements 174.4   167.9 Machinery and equipment 378.1   338.1   579.3   532.9 Accumulated depreciation (254.5)  (242.1)Property, plant and equipment, net 324.8   290.8 Goodwill 1,234.3   1,043.4 Intangibles, net 1,015.3   868.2 Other assets 254.1   250.2 Deferred income taxes 2.6   2.2 Assets of DBT and Heat Transfer 5.8   6.1 TOTAL ASSETS$3,939.3  $3,604.6     LIABILITIES AND STOCKHOLDERS' EQUITY   Current liabilities:   Accounts payable$194.6  $145.2 Contract liabilities 128.2   115.8 Accrued expenses 183.4   185.2 Income taxes payable 13.7   10.0 Short-term debt 74.3   1.4 Current maturities of long-term debt 9.9   3.5 Total current liabilities 604.1   461.1     Long-term debt 530.5   496.7 Deferred and other income taxes 198.4   149.7 Other long-term liabilities 243.7   245.5 Liabilities of DBT and Heat Transfer 14.2   14.1 Total long-term liabilities 986.8   906.0     Stockholders' equity:   Common stock 0.6   0.6 Paid-in capital 1,933.8   1,938.2 Retained earnings 621.1   482.8 Accumulated other comprehensive income 232.0   260.5 Common stock in treasury (439.1)  (444.6)Total stockholders' equity 2,348.4   2,237.5 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$3,939.3  $3,604.6  SPX TECHNOLOGIES, INC. AND SUBSIDIARIESRESULTS OF REPORTABLE SEGMENTS(Unaudited; in millions)                 Three months ended     Six months ended     June 27, 2026 June 28, 2025 Δ %/bps June 27, 2026 June 28, 2025 Δ %/bpsHVAC reportable segment                               Revenues$480.6  $376.7  $103.9  27.6% $874.6  $699.7  $174.9  25.0%Cost of products sold 307.2   226.1   81.1     553.8   425.7   128.1   Selling, general and administrative expense 63.6   54.8   8.8     122.4   104.3   18.1   Income$109.8  $95.8  $14.0  14.6% $198.4  $169.7  $28.7  16.9%as a percent of revenues 22.8%  25.4%   -260bps  22.7%  24.3%   -160bps                Detection & Measurement reportable segment                               Revenues$198.4  $175.7  $22.7  12.9% $371.2  $335.3  $35.9  10.7%Cost of products sold 98.1   96.9   1.2     186.3   183.7   2.6   Selling, general and administrative expense 43.0   38.8   4.2     80.9   75.0   5.9   Income$57.3  $40.0  $17.3  43.3% $104.0  $76.6  $27.4  35.8%as a percent of revenues 28.9%  22.8%   610bps  28.0%  22.8%   520bps                Consolidated Revenues$679.0  $552.4  $126.6  22.9% $1,245.8  $1,035.0  $210.8  20.4%Consolidated Operating Income 115.0   86.6   28.4  32.8%  202.7   153.2   49.5  32.3%as a percent of revenues 16.9%  15.7%   120bps  16.3%  14.8%   150bpsConsolidated Segment Income 167.1   135.8   31.3  23.0%  302.4   246.3   56.1  22.8%as a percent of revenues 24.6%  24.6%   0bps  24.3%  23.8%   50bps                Consolidated operating income$115.0  $86.6  $28.4    $202.7  $153.2  $49.5   Exclude:               Corporate expense 15.8   13.3   2.5     30.3   27.3   3.0   Acquisition and integration-related costs (1) 3.2   6.9   (3.7)    8.2   13.3   (5.1)  Long-term incentive compensation expense 4.3   3.9   0.4     8.0   7.6   0.4   Amortization of acquired intangible assets (2) 27.2   24.6   2.6     51.4   44.3   7.1   Special charges, net 1.6   —   1.6     1.8   0.1   1.7   Other operating expense, net —   0.5   (0.5)    —   0.5   (0.5)  Consolidated segment income$167.1  $135.8  $31.3  23.0% $302.4  $246.3  $56.1  22.8%as a percent of revenues 24.6%  24.6%   0bps  24.3%  23.8%   50bps                (1) Represents certain acquisition-related and other costs incurred of $3.2 and $8.2 during the three and six months ended June 27, 2026, respectively, and $6.9 and $13.3 during the three and six months ended June 28, 2025, respectively. The three and six months ended June 27, 2026 includes amortization of a deferred compensation asset in connection with the Kranze Technology Solutions (“KTS”) acquisition of $2.7 and $6.3, respectively. The six months ended June 27, 2026 includes additional “Cost of products sold” related to the step up of inventory (to fair value) acquired in connection with the Thermolec Ltd. (“Thermolec”) acquisition of $0.4 and the Crawford United Corporation (“Crawford United”) acquisition of $0.1. The three and six months ended June 28, 2025 includes amortization of a deferred compensation asset and additional “Cost of products sold” related to the step up of inventory (to fair value) each acquired in connection with the KTS acquisition of $6.6 and $10.9 and $0.5 and $0.8, respectively.                (2) Represents amortization expense associated with acquired intangible assets recorded within “Selling, general and administrative — intangible amortization” and “Cost of products sold”. SPX TECHNOLOGIES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited; in millions)         Three months ended Six months ended June 27, 2026 June 28, 2025 June 27, 2026 June 28, 2025Cash flows from (used in) operating activities:       Net income$78.4  $52.2  $138.3  $103.4 Less: Loss from discontinued operations, net of tax (0.9)  (0.3)  (5.4)  (0.8)Income from continuing operations 79.3   52.5   143.7   104.2 Adjustments to reconcile income from continuing operations to net cash from (used in) operating activities:       Special charges, net 1.6   —   1.8   0.1 Gain on change in value of equity security —   —   —   (4.5)Amortization of compensation expense related to acquisition 2.7   6.6   6.3   10.9 Deferred and other income taxes (2.6)  (1.8)  —   (2.3)Depreciation and amortization 35.7   32.5   67.8   59.5 Pension and other employee benefits 3.7   3.2   10.2   8.7 Long-term incentive compensation 4.3   3.9   8.0   7.6 Other, net, including allowance for doubtful accounts (0.1)  (0.1)  (0.2)  0.1 Changes in operating assets and liabilities, net of effects from acquisitions and divestitures:       Accounts receivable and other assets (52.5)  (36.8)  (70.4)  (63.1)Contribution related to employee retention agreements for acquisition —   —   —   (46.5)Inventories (31.2)  (2.4)  (66.5)  (16.2)Accounts payable, accrued expenses and other 49.6   (13.8)  19.9   (24.6)Cash spending on restructuring actions (0.1)  (0.4)  (0.4)  (0.9)Net cash from continuing operations 90.4   43.4   120.2   33.0 Net cash used in discontinued operations (0.8)  (0.9)  —   (1.4)Net cash from operating activities 89.6   42.5   120.2   31.6         Cash flows from (used in) investing activities:       Proceeds related to company-owned life insurance policies, net 0.2   0.1   3.3   3.1 Business acquisitions, net of cash acquired —   (143.6)  (439.6)  (447.7)Capital expenditures (21.1)  (7.7)  (39.6)  (13.2)Net cash used in continuing operations (20.9)  (151.2)  (475.9)  (457.8)Net cash from discontinued operations —   —   59.2   — Net cash used in investing activities (20.9)  (151.2)  (416.7)  (457.8)        Cash flows from (used in) financing activities:       Borrowings under senior credit facilities 25.4   85.0   214.9   478.0 Repayments under senior credit facilities (135.4)  (6.8)  (174.9)  (104.8)Borrowings under trade receivables arrangement 171.0   44.0   282.0   179.0 Repayments under trade receivables arrangement (120.0)  (63.0)  (209.0)  (148.0)Net borrowings (repayments) under other financing arrangements (0.3)  (0.3)  (0.1)  0.2 Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options —   0.7   (14.6)  (9.1)Net cash from (used in) continuing operations (59.3)  59.6   98.3   395.3 Net cash from (used in) discontinued operations —   —   —   — Net cash from (used in) financing activities (59.3)  59.6   98.3   395.3 Change in cash and equivalents due to changes in foreign currency exchange rates 0.5   3.8   0.4   6.4 Net change in cash and equivalents 9.9   (45.3)  (197.8)  (24.5)Consolidated cash and equivalents, beginning of period 158.3   182.2   366.0   161.4 Consolidated cash and equivalents, end of period$168.2  $136.9  $168.2  $136.9   Six Months Ended June 27, 2026 June 28, 2025Components of cash and equivalents:   Cash and equivalents$166.4 $132.8Cash and equivalents included in assets of DBT and Heat Transfer 1.8  4.1Total cash and equivalents$168.2 $136.9 SPX TECHNOLOGIES, INC. AND SUBSIDIARIESCASH AND DEBT RECONCILIATION(Unaudited; in millions)                     Six months ended         June 27, 2026        Beginning cash and equivalents$366.0         Cash from continuing operations 120.2         Capital expenditures (39.6)        Proceeds related to company-owned life insurance policies, net 3.3         Business acquisitions, net of cash acquired (439.6)        Borrowings under senior credit facilities 214.9         Repayments under senior credit facilities (174.9)        Borrowings under trade receivables agreement 282.0         Repayments under trade receivables agreement (209.0)        Net repayments under other financing arrangements (0.1)        Minimum withholdings paid on behalf of employees for net share settlements, net of proceeds from the exercise of employee stock options (14.6)        Cash from discontinued operations 59.2         Change in cash due to changes in foreign currency exchange rates 0.4         Ending cash and equivalents$168.2                              Debt at       Debt at December 31, 2025 Borrowings Repayments Other June 27, 2026Revolving loans$—  $214.9 $(174.9) $— $40.0 Term loan 500.0   —  —   —  500.0 Trade receivables financing arrangement —   282.0  (209.0)  —  73.0 Other indebtedness 2.5   0.2  (0.3)  0.1  2.5 Less: Deferred financing costs associated with the term loan (0.9)  —  —   0.1  (0.8)Totals$501.6  $497.1 $(384.2) $0.2 $614.7  SPX TECHNOLOGIES, INC. AND SUBSIDIARIES ORGANIC REVENUE (Unaudited)         Three months ended June 27, 2026  HVAC Detection &
Measurement Consolidated Net Revenue Growth27.6%12.9%22.9%       Exclude: Foreign Currency0.2%0.1%0.2%       Exclude: Acquisitions8.5%—%5.8%       Organic Revenue Growth18.9%12.8%16.9% SPX TECHNOLOGIES, INC. AND SUBSIDIARIESNON-GAAP RECONCILIATION - ADJUSTED OPERATING INCOME(Unaudited; in millions)                 Three months ended Six months ended June 27, 2026 June 28, 2025 June 27, 2026 June 28, 2025Operating income$115.0  $86.6  $202.7  $153.2         Exclude:       Acquisition and integration-related costs (1) (4.6)  (8.3)  (12.3)  (16.9)        Amortization of acquired intangible assets (2) (27.2)  (24.6)  (51.4)  (44.3)        Long-term incentive compensation (3) (0.2)  —   (0.3)  —         Adjusted operating income$147.0  $119.5  $266.7  $214.4 as a percent of revenues 21.6%  21.6%  21.4%  20.7%        (1) For the three and six months ended June 27, 2026, represents (i) certain acquisition and integration-related costs of $1.9 and $5.5, respectively, and (ii) amortization of a deferred compensation asset of $2.7 and $6.3, respectively, related to the KTS acquisition. The six months ended June 27, 2026 includes additional inventory step-up charges of $0.4 and $0.1, related to the Thermolec and Crawford United acquisitions, respectively. For the three and six months ended June 28, 2025, represents (i) certain acquisition and integration-related costs of $1.2 and $5.2, respectively, and (ii) amortization of a deferred compensation asset and additional inventory step-up charges of $6.6 and $10.9 and $0.5 and $0.8, respectively, each related to the KTS acquisition.        (2) Represents amortization expense associated with acquired intangible assets recorded within “Selling, general and administrative — intangible amortization” and “Cost of products sold.”        (3) For the three and six months ended June 27, 2026, represents the removal of $0.2 and $0.3, respectively, for long-term incentive compensation expense associated with acquisition-related equity grants. SPX TECHNOLOGIES, INC. AND SUBSIDIARIESNON-GAAP RECONCILIATION - ADJUSTED EARNINGS PER SHAREThree Months Ended June 27, 2026(Unaudited; in millions, except per share values)             GAAP Adjustments AdjustedSegment income$167.1  $—  $167.1 Corporate expense (1) (15.8)  1.4   (14.4)Acquisition and integration-related costs (2) (3.2)  3.2   — Long-term incentive compensation expense (3) (4.3)  0.2   (4.1)Amortization of intangible assets (4) (27.2)  27.2   — Special charges, net (1.6)  —   (1.6)Operating income 115.0   32.0   147.0       Other expense, net (5) (5.1)  1.4   (3.7)Interest expense, net (7.7)  —   (7.7)Income from continuing operations before income taxes 102.2   33.4   135.6 Income tax provision (6) (22.9)  (10.2)  (33.1)Income from continuing operations 79.3   23.2   102.5       Diluted shares outstanding 50.675     50.675       Earnings per share from continuing operations$1.56    $2.02       (1) Adjustment represents the removal of certain acquisition and integration-related costs of $1.4. (2) Adjustment represents the removal of acquisition and integration-related costs of $0.5 within the HVAC reportable segment and amortization of a deferred compensation asset related to the KTS acquisition within the Detection and Measurement reportable segment of $2.7. (3) Adjustment represents the removal of $0.2 for long-term incentive compensation expense associated with acquisition-related equity grants.      (4) Adjustment represents the removal of amortization expense associated with acquired intangible assets of $19.8 and $7.4 within the HVAC and Detection & Measurement reportable segments, respectively.      (5) Adjustment represents the removal of non-service pension and postretirement charges of $1.4.      (6) Adjustment represents the tax impact of items (1) through (5) and the removal of certain discrete income tax items that are considered non-recurring. SPX TECHNOLOGIES, INC. AND SUBSIDIARIESNON-GAAP RECONCILIATION - ADJUSTED EARNINGS PER SHAREThree Months Ended June 28, 2025(Unaudited; in millions, except per share values)             GAAP Adjustments AdjustedSegment income$135.8  $—  $135.8 Corporate expense (1) (13.3)  1.4   (11.9)Acquisition and integration-related costs (2) (6.9)  6.9   — Long-term incentive compensation expense (3.9)  —   (3.9)Amortization of intangible assets (3) (24.6)  24.6   — Other operating expense, net (0.5)  —   (0.5)Operating income 86.6   32.9   119.5       Other expense, net (4) (2.1)  1.4   (0.7)Interest expense, net (14.6)  —   (14.6)Income from continuing operations before income taxes 69.9   34.3   104.2 Income tax provision (5) (17.4)  (8.8)  (26.2)Income from continuing operations 52.5   25.5   78.0       Diluted shares outstanding 47.396     47.396       Earnings per share from continuing operations$1.10    $1.65       (1) Adjustment represents the removal of certain acquisition and integration-related costs of $1.4. (2) Adjustment represents the removal of (i) acquisition and integration-related costs (benefits) of $(0.3) and $0.1 within the Detection and Measurement and HVAC reportable segments, respectively, and (ii) amortization of a deferred compensation asset and an inventory step-up charge of $6.6 and $0.5, respectively, related to the KTS acquisition within the Detection and Measurement reportable segment. (3) Adjustment represents the removal of amortization expense associated with acquired intangible assets of $14.3 and $10.3 within the HVAC and Detection & Measurement reportable segments, respectively.      (4) Adjustment represents the removal of non-service pension and postretirement charges of $1.4.      (5) Adjustment represents the tax impact of items (1) through (4). SPX TECHNOLOGIES, INC. AND SUBSIDIARIESNON-GAAP RECONCILIATION - ADJUSTED EBITDA(Unaudited; in millions)         Three months ended June 27, 2026 June 28, 2025Net income$78.4  $52.2     Exclude:   Income tax provision (22.9)  (17.4)Interest expense, net (7.7)  (14.6)Amortization expense (1) (27.7)  (24.8)Depreciation expense (8.0)  (7.7)Loss from discontinued operations, net of tax (0.9)  (0.3)EBITDA 145.6   117.0     Exclude:   Acquisition and integration-related costs (2) (4.6)  (8.3)Acquisition-related long-term incentive compensation expense (3) (0.2)  — Non-service pension and postretirement charges (1.4)  (1.4)Adjusted EBITDA$151.8  $126.7 as a percent of revenues 22.4%  22.9%    (1) Represents amortization expense associated with acquired intangible assets recorded within “Selling, general and administrative — intangible amortization” and amortization expense associated with acquired intangible assets and capitalized software costs recorded within “Cost of products sold.”
    (2) For the three months ended June 27, 2026, represents (i) certain acquisition and integration-related costs of $1.9, inclusive of acquisition and integration-related costs of $0.5 within the HVAC reportable segment, and (ii) amortization of a deferred compensation asset of $2.7 related to the KTS acquisition within the Detection and Measurement reportable segment. For the three months ended June 28, 2025, represents (i) certain acquisition and integration-related costs of $1.2, inclusive of acquisition and integration-related costs (benefits) of $(0.3) and $0.1 within the Detection and Measurement and HVAC reportable segments, respectively, and (ii) amortization of a deferred compensation asset and an inventory step-up charge of $6.6 and $0.5, respectively, related to the KTS acquisition within the Detection and Measurement reportable segment.    (3) Adjustment represents the removal of $0.2 for long-term incentive compensation expense associated with acquisition-related equity grants. SPX TECHNOLOGIES, INC. AND SUBSIDIARIESNON-GAAP RECONCILIATION - ADJUSTED EBITDA(Unaudited; in millions)         Six months ended June 27, 2026 June 28, 2025Net income$138.3  $103.4     Exclude:   Income tax provision (35.9)  (23.6)Interest expense, net (15.0)  (26.0)Amortization expense (1) (52.1)  (44.7)Depreciation expense (15.7)  (14.8)Loss from discontinued operations, net of tax (5.4)  (0.8)EBITDA 262.4   213.3     Exclude:   Acquisition and integration-related costs (2) (12.3)  (16.9)Acquisition-related long-term incentive compensation expense (3) (0.3)  — Non-service pension and postretirement charges (2.9)  (3.6)Valuation adjustment on an equity security —   4.5 Adjusted EBITDA$277.9  $229.3 as a percent of revenues 22.3%  22.2%    (1) Represents amortization expense associated with acquired intangible assets recorded within “Selling, general and administrative — intangible amortization” and amortization expense associated with acquired intangible assets and capitalized software costs recorded within “Cost of products sold.”
    (2) For the six months ended June 27, 2026, represents (i) certain acquisition and integration-related costs of $5.5, inclusive of acquisition and integration-related costs of $1.4 within the HVAC reportable segment, (ii) inventory step-up charges of $0.4 and $0.1 related to the Thermolec and Crawford United acquisitions, respectively, within the HVAC reportable segment, and (iii) amortization of a deferred compensation asset of $6.3 related to the KTS acquisition within the Detection and Measurement reportable segment. For the six months ended June 28, 2025, represents (i) certain acquisition and integration-related costs of $5.2, inclusive of acquisition and integration-related costs of $0.7 and $0.9 within the Detection and Measurement and HVAC reportable segments, respectively, and (ii) amortization of a deferred compensation asset and an inventory step-up charge of $10.9 and $0.8, respectively, related to the KTS acquisition within the Detection and Measurement reportable segment.    (3) Adjustment represents the removal of $0.3 for long-term incentive compensation expense associated with acquisition-related equity grants. SPX TECHNOLOGIES, INC. AND SUBSIDIARIESNON-GAAP RECONCILIATION - ADJUSTED FREE CASH FLOW(Unaudited; in millions)         Three months ended June 27, 2026 June 28, 2025Operating cash flow from continuing operations$90.4  $43.4     Include:   Capital expenditures (21.1)  (7.7)Free cash flow from continuing operations 69.3   35.7     Exclude:   Acquisition and integration-related payments and other (1) (2.8)  (1.4)Adjusted free cash flow from continuing operations$72.1  $37.1     (1) For the three months ended June 27, 2026, represents the removal of the cash impact of acquisition and integration-related costs of $2.8. For the three months ended June 28, 2025, represents the removal of the cash impact of acquisition and integration-related costs of $1.4. SPX TECHNOLOGIES, INC. AND SUBSIDIARIESNON-GAAP RECONCILIATION - ADJUSTED FREE CASH FLOW(Unaudited; in millions)         Six months ended June 27, 2026 June 28, 2025Operating cash flow from continuing operations$120.2  $33.0     Include:   Capital expenditures (39.6)  (13.2)Free cash flow from continuing operations 80.6   19.8     Exclude:   Acquisition and integration-related payments and other (1) (7.3)  (53.6)Adjusted free cash flow from continuing operations$87.9  $73.4     (1) For the six months ended June 27, 2026, represents the removal of the cash impact of acquisition and integration-related costs of $7.3. For the six months ended June 28, 2025, represents the removal of the cash impact of (i) funded amounts associated with employee retention agreements assumed in the KTS acquisition of $46.5 and (ii) acquisition and integration-related costs of $7.1.

Key Takeaways SPXC is expected to post second-quarter revenue growth, supported by HVAC and Detection & Measurement demand.SPXC is likely to benefit from data center cooling demand, capacity expansions and acquisition contributions.SPXC's earnings are expected to grow on higher volumes despite tariff and expansion cost headwinds. SPX Technologies, Inc. (SPXC - Free Report) is scheduled to report second-quarter 2026 results on July 30, after the closing bell.

In the last reported quarter, its earnings and revenues surpassed the Zacks Consensus Estimate by 9% and 2.5%, respectively. Also, on a year-over-year basis, both metrics grew 22.5% and 17.4%, respectively.

The company’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 9.7%.

SPXC Q2 Earnings & Revenue ExpectationsThe Zacks Consensus Estimate for SPXC’s second-quarter earnings has decreased to $1.85 from $1.86 per share in the past 30 days. The estimated figure indicates a 12.1% increase on a year-over-year basis.

The consensus estimate for revenues is pegged at $635.64 million, indicating a 15.1% year-over-year rise.

Factors Likely to Shape SPX Technologies’ Quarterly ResultsRevenuesSPX Technologies' second-quarter revenues are expected to have increased year over year, supported by healthy demand across its HVAC and Detection & Measurement businesses. Growth is likely to have been driven by continued strength in data center cooling solutions, contributions from recent acquisitions and steady organic growth across key end markets. Capacity expansions across HVAC facilities and increasing production of newly introduced products are also expected to have supported higher shipments during the quarter.

Demand for data center cooling solutions is likely to have remained a key growth driver, supported by expanding customer investments in AI infrastructure and hyperscale data centers. Continued progress on capacity expansion projects, along with healthy demand across core HVAC markets and steady momentum in Detection & Measurement, is expected to have supported the company's top-line performance. Contributions from recent acquisitions are also likely to have provided an incremental boost to revenues during the to-be-reported quarter.

EarningsSPX Technologies' earnings are expected to have increased year over year, supported by higher sales volumes, favorable operating leverage and continued benefits from recent acquisitions. Productivity improvements, disciplined execution and a favorable business mix are also likely to have supported profitability during the quarter. The company's focus on operational execution and integration of acquired businesses is expected to have further strengthened earnings performance.

However, earnings growth is likely to have been partially offset by higher costs associated with HVAC capacity expansion projects and the impact of Section 232 tariffs, which management expects to be concentrated in the second quarter. While pricing actions and other mitigation initiatives are expected to have reduced part of the tariff-related impact, these measures are unlikely to have fully offset the near-term cost headwinds during the quarter.

Earnings Whispers for SPX Technologies StockOur proven model predicts an earnings beat for SPX Technologies this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is exactly the case here, as elaborated below.

SPX Technologies’ Earnings ESP: The company currently has an Earnings ESP of +1.35%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.

SPX Technologies’ Zacks Rank: SPXC presently carries a Zacks Rank of 2.

Other Stocks With the Favorable CombinationHere are three other companies in the Zacks Construction sector, which, according to our model, have the right combination of elements to post an earnings beat.

Boise Cascade Company (BCC - Free Report) has an Earnings ESP of +6.50% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Boise Cascade’s earnings beat estimates in two of the last four quarters, missed on one occasion and met on the remaining occasion, the average surprise being 40.8%. The company’s earnings for the second quarter of 2026 are expected to decline 25% year over year.

Amentum Holdings, Inc. (AMTM - Free Report) currently has an Earnings ESP of +3.18% and a Zacks Rank of 2.

The company's earnings beat estimates in each of the last four quarters, the average surprise being 4%. Amentum’s earnings for the second quarter of 2026 are expected to increase 12.5% year over year.

CRH plc (CRH - Free Report) has an Earnings ESP of +4.08% and a Zacks Rank of 3.

The company's earnings beat estimates in two of the last four quarters, missed on one occasion and met on the remaining occasion, the average surprise being 0.7%. CRH’s earnings for the second quarter of 2026 are expected to inch up 1% year over year.

Wall Street expects a year-over-year increase in earnings on higher revenues when SPX Technologies (SPXC - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on July 30, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.

Zacks Consensus EstimateThis infrastructure equipment supplier is expected to post quarterly earnings of $1.85 per share in its upcoming report, which represents a year-over-year change of +12.1%.

Revenues are expected to be $635.64 million, up 15.1% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for SPX Technologies?For SPX Technologies, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +1.35%.

On the other hand, the stock currently carries a Zacks Rank of #2.

So, this combination indicates that SPX Technologies will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that SPX Technologies would post earnings of $1.55 per share when it actually produced earnings of $1.69, delivering a surprise of +9.03%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

SPX Technologies appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAmong the stocks in the Zacks Building Products - Air Conditioner and Heating industry, Lennox International (LII - Free Report) , is soon expected to post earnings of $7.63 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of -2.4%. This quarter's revenue is expected to be $1.56 billion, up 4.2% from the year-ago quarter.

The consensus EPS estimate for Lennox has been revised 1.1% higher over the last 30 days to the current level. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +0.56%.

When combined with a Zacks Rank of #2 (Buy), this Earnings ESP indicates that Lennox will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Expands SPX Technologies’ HVAC Capabilities with Custom HVAC Control and Engineered Air Management Solutions July 23, 2026 06:45 ET  | Source: SPX Technologies

CHARLOTTE, N.C., July 23, 2026 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE: SPXC) (“SPX” or the “Company”) announced today that it has completed the acquisition of Neptronic Inc. (“Neptronic”) for a total cash consideration of CA$ 605 million (approximately US$ 430 million), subject to customary closing adjustments. The multiple of enterprise value to earnings before interest, tax, depreciation and amortization (“EBITDA multiple”) implied in the transaction is modestly above the upper-end of the Company’s recently transacted range of 8-12x.

Neptronic designs and manufactures highly engineered HVAC solutions including intelligent controls, electric duct heaters, humidifiers, actuators and valves. Neptronic serves customers through a strong network of OEMs and channel partners, focused on mission-critical applications including data centers, healthcare and education. Based in Montreal, Canada, Neptronic has about 300 employees and generates annual revenues of approximately US$ 75 million.

Neptronic will become part of SPX Technologies’ HVAC segment, expanding the Company’s position in precision thermal management solutions and expanding its offering with high-quality brands and products that it can leverage across its platform and geographic footprint. The addition of Neptronic strengthens SPX’s portfolio with differentiated controls, electric duct heaters, actuators, actuated valves, and humidifiers - strategic product categories with strong market fundamentals and a natural fit within the Company’s existing sales channels. Neptronic’s technology platform further advances SPX’s evolution toward delivering intelligent, controls-enabled HVAC solutions for customers globally.

SPX intends to accelerate Neptronic’s growth by expanding channel access and customer reach and by providing the capital and operational resources to scale the business while preserving its innovation-led culture and speed to market. Neptronic’s solutions are also expected to be leveraged across the broader SPX HVAC portfolio, enabling more intelligent, fully integrated HVAC solutions.

“We are excited to welcome Neptronic to the SPX Technologies team,” said Gene Lowe, SPX Technologies President and CEO. “Neptronic’s differentiated controls and thermal management solutions are highly complementary to our existing portfolio and further advance our HVAC growth strategy. The addition of Neptronic expands our capabilities as an integrated controls-enabled systems provider and enhances our portfolio with highly complementary product categories that can be leveraged across our HVAC platform and global footprint.”

“Joining SPX Technologies represents an exciting opportunity for Neptronic,” said Biagio Di Lorenzo, CFO and President of Neptronic. “SPX’s scale, operational resources and strong channel relationships in the HVAC market will help accelerate our growth while preserving the engineering expertise, innovation and customer focus that have defined our business for nearly 50 years.”

SPX management plans to provide updated 2026 guidance, incorporating the impact of Neptronic, on July 30, 2026, when SPX Technologies reports Q2 2026 results.

About SPX Technologies, Inc: SPX Technologies is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. Based in Charlotte, North Carolina, SPX has operations in 16 countries. SPX Technologies is listed on the New York Stock Exchange under the ticker symbol “SPXC.” For more information, please visit www.spx.com.

About Neptronic Inc.: Founded in 1976 in Montréal, Quebec, Neptronic designs and manufactures engineered HVAC solutions including intelligent controllers, electric heaters, humidifiers, actuators and valves. Neptronic employs more than 300 employees in an integrated 93,000-square-foot facility.   

Forward Looking Statements: 

Statements in this press release that express a belief, expectation, or intention, as well as those that are not historical fact, including plans to expand Neptronic’s sales, are forward-looking statements under the Private Securities Litigation Reform Act of 1995. The words “intends,” “plans,” “will,” “believe,” “expected,” “anticipated,” and similar expressions identify forward-looking statements. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These forward-looking statements involve a number of risks and uncertainties that may cause actual events and results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to: risks that the acquisition disrupts current plans and operations of SPX Technologies or Neptronic; the risk that the disruption from the transaction may make it more difficult to maintain business and operational relationships, including retaining and hiring key personnel and maintaining relationships with Neptronic’s vendors and others with whom Neptronic does business; and risks and uncertainties with respect to SPX Technologies’ ability to recognize the anticipated benefits of the transaction, including expanding Neptronic’s sales. SPX Technologies’ filings with the Securities and Exchange Commission, including its most recent Form 10-K and Form 10-Q, describe other risks and uncertainties.

Statements in this press release speak only as of the date of this press release, and SPX Technologies disclaims any responsibility to update or revise such statements, except as required by law.

SPX Investor Contact:

Johann Rawlinson, Vice President, Investor Relations
Phone: 980.228.6028
Email: [email protected]

Source: SPX Technologies

Key Takeaways SPX Technologies' stock gained 26.1% in a year, outpacing the Construction sector and the S&P 500 Index.SPXC raised its 2026 data center growth outlook to 70% as cooling and air-handling demand accelerated.Segment income rose 22% to $135 million, while margin expanded 100 basis points to 23.9%. SPX Technologies, Inc. (SPXC - Free Report) has delivered a strong share price performance, reflecting solid execution, resilient demand across its key end markets and growing confidence in its long-term growth strategy. Momentum in its HVAC and Detection & Measurement businesses, accelerating demand for data center cooling solutions and disciplined acquisitions have strengthened the company's growth outlook. SPXC stock has climbed 26.1% over the past year, broadly matching the Zacks Building Products - Air Conditioner and Heating industry’s 27% rise while outperforming the Construction sector’s 14.6% gain and the S&P 500 Index’s 24.2% increase.

The outlook remains encouraging. Management raised its full-year guidance after a stronger-than-expected first quarter of 2026, citing robust execution, sustained demand across key markets and additional data center-related volumes expected in the second half of 2026. Continued investments in manufacturing capacity, product innovation and strategic acquisitions should further strengthen SPX Technologies' competitive position.

SPXC’s 1-Year Price Performance

Image Source: Zacks Investment Research

Over the past year, SPX Technologies has substantially outperformed several industry peers. While Carrier Global Corporation (CARR - Free Report) and Pentair plc (PNR - Free Report) posted declines of 9.5% and 28.7%, respectively, Trane Technologies plc (TT - Free Report) gained 9.2%.

SPXC's Data Center Strategy Continues to Drive Long-Term GrowthSPX Technologies continues to benefit from one of the strongest structural growth trends in industrial markets: data center infrastructure. Management noted that demand for its cooling systems and custom air-handling solutions remains exceptionally strong, prompting the company to increase its 2026 data center growth outlook from approximately 50% to 70%. SPXC also emphasized that demand continues to accelerate, supported by increasing activity from hyperscale and colocation customers.

To support this opportunity, SPX Technologies is expanding production capacity across multiple facilities. New manufacturing lines at its Tennessee and Kansas plants have already begun production, while the Alabama expansion remains on schedule to add additional assembly and manufacturing capacity through 2027. Management believes these investments, together with strong customer visibility and a diversified customer base, position the company for sustained growth beyond 2026.

SPXC's Operational Execution Continues to Support Profit GrowthSPX Technologies continues to execute well across both operating segments despite ongoing investments in capacity expansion. Consolidated segment income rose 22% year over year to $135 million, while segment margin expanded 100 basis points to 23.9%, supported by higher volumes, a favorable product mix and increased software revenues within Detection & Measurement.

HVAC segment’s income increased 20% to $88.6 million, benefiting from organic growth and acquisition contributions. Segment margin declined 40 basis points to 22.5%, mainly due to planned start-up costs associated with new production capacity. Management expects most of the estimated $8-$9 million in start-up expenses to be incurred during the first half of 2026. As the new facilities ramp up, operating leverage is expected to improve and support stronger profitability over time.

The company's disciplined acquisition strategy also continues to enhance its growth profile. Recent additions such as Thermolec and Crawford's commercial air-handling business expand SPX Technologies' HVAC capabilities, while the divestiture of Crawford United's non-core industrial and transportation businesses sharpens management's focus on higher-growth markets.

SPXC's Financial Strength Supports Future GrowthSPX Technologies maintains a healthy balance sheet that provides ample flexibility to invest in organic growth and pursue strategic acquisitions. The company ended the first quarter with approximately $158 million in cash and a leverage ratio of roughly 0.9x, well below its long-term target range. This financial strength provides significant capacity to pursue additional value-enhancing acquisitions while continuing to invest in manufacturing expansion and innovation.

The company also continues to generate positive operating cash flow while actively reshaping its portfolio. During the quarter, SPX Technologies completed the divestiture of Crawford United's non-core industrial and transportation businesses, allowing management to sharpen its focus on higher-growth HVAC and Detection & Measurement markets. Combined with a robust acquisition pipeline and raised full-year guidance, the balance sheet positions SPXC to continue executing its long-term growth strategy.

Earnings Estimate Revision of SPXC StockSPXC’s earnings outlook has improved over the past 60 days, with the Zacks Consensus Estimate for 2026 rising to $7.98 per share. The consensus estimate for 2027 has remained unchanged over the same period, as shown below. The current projections imply earnings growth of 18.1% in 2026, followed by an additional 12.9% increase in 2027.

Image Source: Zacks Investment Research

SPXC's earnings growth outlook also compares favorably with its peers. Carrier Global is expected to grow earnings by 7.7% this year, while Pentair and Trane Technologies are projected to deliver growth of 8.7% and 13.6%, respectively.

SPXC Stock Trades at a DiscountSPX Technologies trades at a forward 12-month P/E ratio of 25.77X, below the industry average. The valuation reflects investor confidence in the company's disciplined execution, expanding data center opportunity, resilient demand across key end markets and continued investments in manufacturing capacity, product innovation and strategic acquisitions. These initiatives are expected to support long-term earnings growth.

However, following the stock's strong run, execution remains critical. Delays in ramping new manufacturing capacity, slower-than-expected data center demand, integration challenges related to recent acquisitions or a greater-than-expected impact from tariffs could pressure margins and weigh on investor sentiment.

SPXC P/E Ratio (Forward 12 Months) Vs Industry

Image Source: Zacks Investment Research

Among peers, Carrier Global trades at a forward 12-month P/E multiple of 23.27X, while Pentair trades at 13.57X. Trane Technologies carries a higher valuation of 30.06X on the same basis. SPXC therefore trades at a premium to Carrier and Pentair but at a discount to Trane Technologies, placing it within the broader peer valuation range.

Is SPXC Stock Still a Buy After Its Strong Run?SPX Technologies remains well positioned to benefit from structural growth trends across data centers, HVAC and Detection & Measurement markets. The company continues to execute its value creation strategy through capacity expansion, product innovation and disciplined acquisitions, while its raised guidance and robust backlog underscore confidence in long-term growth. These initiatives, combined with resilient demand across key end markets, should support sustained earnings growth over time.

SPXC also maintains financial flexibility to invest in organic expansion and pursue strategic acquisitions. However, risks remain from delays in ramping new manufacturing capacity, slower-than-expected data center demand, acquisition integration challenges and tariff-related pressures. While the stock trades at a discount to the broader peer group, sustained execution will be important to justify its valuation. Encouragingly, rising earnings estimates suggest analysts remain confident in the company's growth prospects.

SPXC stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

July 08, 2026 16:35 ET  | Source: SPX Technologies

CHARLOTTE, N.C., July 08, 2026 (GLOBE NEWSWIRE) -- SPX Technologies, Inc. (NYSE:SPXC) announced today that it will release its financial results for the second quarter of fiscal year 2026 after the U.S. financial markets close on Thursday, July 30, 2026.

In conjunction with this announcement, SPX Technologies’ President and Chief Executive Officer Gene Lowe and SPX Technologies’ Vice President, Chief Financial Officer Mark Carano will discuss the Company’s financial results and business outlook during a conference call on Thursday, July 30, 2026, at 4:45 p.m. Eastern Time.

Webcast and slides:
The call will be simultaneously webcast and the slides will be available in the Investor Relations section of the company’s website at https://www.spx.com/investor-relations/webcasts-and-presentations, or through the following link: https://edge.media-server.com/mmc/p/o5op5ou8.

Call access:
To access the call by phone, please use the following link to receive dial-in details https://register-conf.media-server.com/register/BI1493b55e6e4e4d7eb65b63476990f468. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time at www.spx.com.

About SPX Technologies, Inc: SPX Technologies, Inc. is a diversified, global supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. Based in Charlotte, North Carolina, SPX Technologies, Inc. has operations in over 16 countries. SPX Technologies, Inc. is listed on the New York Stock Exchange under the ticker symbol “SPXC.” For more information, please visit www.spx.com.

Investor Contacts:
Johann Rawlinson, Vice President, Investor Relations
Phone: 980.228.6028
Email: [email protected]

Source: SPX Technologies

HomeStock IdeasLong IdeasIndustrial 

SummarySPX Technologies is executing on geographic expansion and disciplined acquisitions, driving strong revenue and margin growth, particularly in Canada.Q1-2026 results showed 17.4% revenue growth, 24.6% GAAP income growth, and raised FY2026 guidance for revenue (+15%), adjusted EBITDA (+21%), and adjusted EPS (+18%).Canadian acquisitions, favorable market dynamics, and government incentives are key catalysts, while tariffs and currency remain manageable risks.I maintain a Buy rating on SPXC with a $236.70 price target, reflecting solid growth but limited near-term upside as market expectations are largely priced in. alacatr/iStock via Getty Images

Investment Thesis SPX Technologies, Inc.'s (SPXC) decision to expand geographically and to seek better margins is paying off. In an August 2025 article, I argued the company’s global expansion should lead to higher

1.68K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task.

By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.

However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.

SPX Technologies (SPXC - Free Report) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank.

Studies have shown that stocks with the best growth features consistently outperform the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.

Here are three of the most important factors that make the stock of this infrastructure equipment supplier a great growth pick right now.

Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for SPX Technologies is 28.8%, investors should actually focus on the projected growth. The company's EPS is expected to grow 18.1% this year, crushing the industry average, which calls for EPS growth of 7.4%.

Cash Flow GrowthWhile cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies than for mature companies. That's because, growth in cash flow enables these companies to expand their businesses without depending on expensive outside funds.

Right now, year-over-year cash flow growth for SPX Technologies is 34.2%, which is higher than many of its peers. In fact, the rate compares to the industry average of -0.2%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 24.2% over the past 3-5 years versus the industry average of 14.3%.

Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

There have been upward revisions in current-year earnings estimates for SPX Technologies. The Zacks Consensus Estimate for the current year has surged 0.1% over the past month.

Bottom LineWhile the overall earnings estimate revisions have made SPX Technologies a Zacks Rank #2 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination indicates that SPX Technologies is a potential outperformer and a solid choice for growth investors.

The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has SPX Technologies (SPXC - Free Report) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Construction peers, we might be able to answer that question.

SPX Technologies is a member of our Construction group, which includes 88 different companies and currently sits at #16 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. SPX Technologies is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for SPXC's full-year earnings has moved 2.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Our latest available data shows that SPXC has returned about 21.5% since the start of the calendar year. Meanwhile, stocks in the Construction group have gained about 17% on average. This means that SPX Technologies is performing better than its sector in terms of year-to-date returns.

Another Construction stock, which has outperformed the sector so far this year, is Simpson Manufacturing (SSD - Free Report) . The stock has returned 24% year-to-date.

For Simpson Manufacturing, the consensus EPS estimate for the current year has increased 2.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, SPX Technologies belongs to the Building Products - Air Conditioner and Heating industry, a group that includes 7 individual stocks and currently sits at #40 in the Zacks Industry Rank. This group has gained an average of 46.9% so far this year, so SPXC is slightly underperforming its industry in this area.

Simpson Manufacturing, however, belongs to the Building Products - Miscellaneous industry. Currently, this 33-stock industry is ranked #200. The industry has moved +5.3% so far this year.

SPX Technologies and Simpson Manufacturing could continue their solid performance, so investors interested in Construction stocks should continue to pay close attention to these stocks.

SPX Technologies, Inc. (SPXC) Q1 2026 Earnings Call Transcript

Investors need to pay close attention to SPXC stock based on the movements in the options market lately.

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock.

By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.

However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects, makes it pretty easy to find cutting-edge growth stocks.

Our proprietary system currently recommends SPX Technologies (SPXC - Free Report) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank.

Research shows that stocks carrying the best growth features consistently beat the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).

While there are numerous reasons why the stock of this infrastructure equipment supplier is a great growth pick right now, we have highlighted three of the most important factors below:

Earnings GrowthArguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for SPX Technologies is 28.8%, investors should actually focus on the projected growth. The company's EPS is expected to grow 17.9% this year, crushing the industry average, which calls for EPS growth of 6.4%.

Cash Flow GrowthWhile cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies than for mature companies. That's because, growth in cash flow enables these companies to expand their businesses without depending on expensive outside funds.

Right now, year-over-year cash flow growth for SPX Technologies is 34.2%, which is higher than many of its peers. In fact, the rate compares to the industry average of -0.2%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 24.2% over the past 3-5 years versus the industry average of 14.3%.

Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

There have been upward revisions in current-year earnings estimates for SPX Technologies. The Zacks Consensus Estimate for the current year has surged 2.3% over the past month.

Bottom LineSPX Technologies has not only earned a Growth Score of B based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination indicates that SPX Technologies is a potential outperformer and a solid choice for growth investors.

SPX Technologies, Inc. (SPXC) Presents at Bank of America 33rd Annual Industrials, Transportation and Airlines Key Leaders Conference Transcript

SPX Technologies (SPXC) witnesses a hammer chart pattern, indicating support found by the stock after losing some value lately. This coupled with an upward trend in earnings estimate revisions could mean a trend reversal for the stock in the near term.

On May 20, 2026, SPX Technologies Inc (SPXC) shares rose 5.0% today, reaching a current price of $205.55. The stock has experienced a 52-week range between $147

On June 02, 2026, SPX Technologies Inc (SPXC) shares rose 4.2%, bringing the current price to $230.08. The stock has seen a 52-week range of $150.81 to $246.68,

SPX Technologies (SPXC - Free Report) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.

A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.

Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.

As such, the Zacks rating upgrade for SPX Technologies is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.

For SPX Technologies, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate RevisionsEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for SPX TechnologiesThis infrastructure equipment supplier is expected to earn $7.98 per share for the fiscal year ending December 2026, which represents no year-over-year change.

Analysts have been steadily raising their estimates for SPX Technologies. Over the past three months, the Zacks Consensus Estimate for the company has increased 3%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of SPX Technologies to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.